This module allows you to analyze existing cross correlation between LiveCoin NovaCoin USD and EXRATES Dogecoin USD. You can compare the effects of market volatilities on LiveCoin NovaCoin and EXRATES Dogecoin and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in LiveCoin NovaCoin with a short position of EXRATES Dogecoin. See also your portfolio center. Please also check ongoing floating volatility patterns of LiveCoin NovaCoin and EXRATES Dogecoin.
|Horizon||30 Days Login to change|
|LiveCoin NovaCoin USD|
Over the last 30 days LiveCoin NovaCoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, LiveCoin NovaCoin is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholder.
|EXRATES Dogecoin USD|
Over the last 30 days EXRATES Dogecoin USD has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, EXRATES Dogecoin is not utilizing all of its potentials. The current stock price agitation, may contribute to short term losses for the management.
LiveCoin NovaCoin and EXRATES Dogecoin Volatility Contrast
LiveCoin NovaCoin USD vs. EXRATES Dogecoin USD
If you would invest 0.26 in EXRATES Dogecoin USD on August 23, 2019 and sell it today you would earn a total of 0.00 from holding EXRATES Dogecoin USD or generate 0.0% return on investment over 30 days.
Pair Corralation between LiveCoin NovaCoin and EXRATES Dogecoin
|Time Period||3 Months [change]|
Diversification Opportunities for LiveCoin NovaCoin and EXRATES Dogecoin
Overlapping area represents the amount of risk that can be diversified away by holding LiveCoin NovaCoin USD and EXRATES Dogecoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on EXRATES Dogecoin USD and LiveCoin NovaCoin is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on LiveCoin NovaCoin USD are associated (or correlated) with EXRATES Dogecoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXRATES Dogecoin USD has no effect on the direction of LiveCoin NovaCoin i.e. LiveCoin NovaCoin and EXRATES Dogecoin go up and down completely randomly.
See also your portfolio center. Please also try Coins and Tokens Correlation module to utilize digital token correlation table to build portfolio of cryptocurrencies across multiple exchanges.